Fawaz Alhokair Group to raise investments in Egypt

The Saudi company Fawaz Alhokair Group is to raise its investments in Egypt, according to a statement issued by the Ministry of Investment. The statement said that Investment Minister Sahar Nasr held a meeting with the group of representatives, where both sides discussed increasing the group’s investments in Egypt.

The statement added that the company would invest in establishing three mall centers in the New Administrative Capital, New Cairo, and Tanta, as well as completing the second phase of Mall of Arabia—adding EGP1.2bn to the EGP 4bn invested in the first phase.

Furthermore, the minister stated that the government looks forward to improving the investment environment and providing different types of support to investors in order to increase investments in Egypt.

Nasr said that the government, in cooperation with each ministry, would set an investment plan to promote investment opportunities in every governorate.